SSR Mining (NASDAQ:SSRM) Downgraded by ValuEngine to “Hold”

ValuEngine lowered shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) from a buy rating to a hold rating in a report released on Saturday, ValuEngine reports.

Several other equities research analysts also recently commented on SSRM. Citigroup increased their price objective on SSR Mining from $14.00 to $16.00 and gave the company a neutral rating in a report on Wednesday, September 11th. BMO Capital Markets increased their price objective on SSR Mining to $19.50 and gave the company an outperform rating in a report on Tuesday, July 23rd. BidaskClub downgraded SSR Mining from a strong-buy rating to a buy rating in a report on Saturday, September 7th. B. Riley increased their price objective on SSR Mining from $16.70 to $18.70 and gave the company a neutral rating in a report on Monday, September 9th. Finally, Scotiabank raised SSR Mining from a sector perform rating to a sector outperform rating and set a $17.00 price objective for the company in a report on Tuesday, September 10th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. SSR Mining currently has a consensus rating of Buy and an average price target of $17.31.

NASDAQ SSRM opened at $14.63 on Friday. The company has a market cap of $1.73 billion, a PE ratio of 63.61 and a beta of -0.36. The company has a current ratio of 4.02, a quick ratio of 2.91 and a debt-to-equity ratio of 0.15. SSR Mining has a 12 month low of $8.43 and a 12 month high of $17.56. The stock has a 50 day moving average of $16.02 and a 200-day moving average of $13.53.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Thursday, August 8th. The basic materials company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.06 by $0.09. The company had revenue of $155.15 million during the quarter, compared to the consensus estimate of $143.00 million. SSR Mining had a return on equity of 4.84% and a net margin of 4.18%. The firm’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 EPS. As a group, sell-side analysts predict that SSR Mining will post 0.64 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of SSRM. Bank of Montreal Can raised its stake in SSR Mining by 92.6% in the 2nd quarter. Bank of Montreal Can now owns 2,577,586 shares of the basic materials company’s stock valued at $35,236,000 after acquiring an additional 1,239,501 shares during the period. Paulson & CO. Inc. bought a new stake in SSR Mining in the 2nd quarter valued at $15,833,000. Invesco Ltd. raised its stake in SSR Mining by 7,205.2% in the 2nd quarter. Invesco Ltd. now owns 836,594 shares of the basic materials company’s stock valued at $11,436,000 after acquiring an additional 825,142 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in SSR Mining by 14.9% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,755,116 shares of the basic materials company’s stock valued at $47,475,000 after acquiring an additional 487,821 shares during the period. Finally, O Shaughnessy Asset Management LLC bought a new stake in SSR Mining in the 1st quarter valued at $4,762,000. Institutional investors and hedge funds own 56.47% of the company’s stock.

SSR Mining Company Profile

SSR Mining Inc engages in the acquisition, exploration, development, and operation of precious metal resource properties in the Americas. The company primarily explores for gold and silver deposits. Its projects include the Marigold mine located in Humboldt County, Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.

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Analyst Recommendations for SSR Mining (NASDAQ:SSRM)

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